Yield strategies for stablecoins
Access advanced yield strategies on your stablecoins across top tier DeFi protocols directly through Sky.money.
Sky Vaults are third-party yield strategies deployed by Morpho and facilitated through Sky.money. Returns are variable and strategy-driven, not governance-set, and depend on market utilization and conditions within each deployment.
How Sky Vaults work
The expansion of yield
Sky Vaults expand your options beyond the benchmark yield for stablecoins with the Sky Savings Rate (SSR). They provide a suite of yield strategies ranging from conservative to advanced.
Sky Protocol extensions
Morpho has integrated Sky Protocol infrastructure to deploy these third-party vaults, to enable access to a wider range of yield strategies based on their own unique spin on Sky Protocol primitives.
The curated yield suite
Unified portfolio management
Sky.money enables access to a suite of third-party yield products on stablecoins, currently deployed by Morpho, which can be managed from a single, seamless interface.
Curation is the product
Every vault is vetted before it goes live: strategy mechanics, smart contract risk, counterparty exposure, and oracle risks all adhere to Sky.money’s curation standards.
Strategy-driven returns
While the Sky Savings Rate is governance-set by Sky Protocol for stable and predictable outcomes, Sky Vault returns are dynamic. They depend purely on the performance and market utilization of their specific strategy. Depending on market conditions, Sky Vaults can yield more or less than the SSR at any given time.
Bring USDS, USDC, or USDT
Each vault specifies which asset it accepts and which strategy it deploys into. With the launch of Sky Vaults, you can put multiple types of assets to work. As new protocol integrations and Sky Agent Network expansions launch, supported assets and strategies could continue to expand.
Frequently asked questions about Sky Vaults
What are Sky Vaults?
Curated yield strategies deployed by Morpho and made available on Sky.money that deploy stablecoin capital into DeFi lending and liquidity markets. Sky.money vets every vault for mechanism quality, smart contract risk, and oracle risks before it goes live. Current vaults operate through Morpho, with the potential for additional integrations in the future.
Who curates the vaults?
What are the risks?
Sky Vault returns are not governance-set and not guaranteed. Risks include strategy underperformance, collateral volatility, smart contract risk, and liquidity constraints during high-utilization periods. Each vault carries strategy-specific risk structurally different from sUSDS. Review each vault’s exposure and parameters before supplying.
Where can I review vault performance?
Each vault’s strategy, utilization, and performance data are displayed on the Sky.money Vaults page. Underlying positions are verifiable onchain through the respective protocol interfaces.
How do Sky Vaults differ from the Sky Savings Rate?
The Sky Savings Rate (sUSDS) is governance-set, backed by diversified protocol revenue, and designed for predictability. Sky Vault returns are strategy-driven: they depend on market dynamics within each deployment. Sky Vaults can yield more than sUSDS. They can also yield less. They’re a different mechanism for different risk profiles and hold a different place in a portfolio.
What strategies do the current vaults use?
Current vaults made available on Sky.money deploy into sUSDS, stUSDS or bluechip collateralized lending markets. The USDT Savings Vault, for example, allocates supplies to a market where borrowers use sUSDS as collateral. Each vault targets a single, defined strategy.
What stablecoins can I supply?
USDS, USDC or USDT depending on the vault. Each third-party vault specifies which asset it accepts. No conversion to USDS required. Supported assets may expand as new integrations launch.
Can I withdraw from a vault at any time?
Withdrawals are available subject to vault liquidity. During high utilization in the underlying market, withdrawal timing may be affected by lending market mechanics. There is no lockup imposed by Sky.money.
Your stablecoins don’t have to sit still
Protocol updates, upcoming launches and everything you need to stay on top of putting your stablecoins to work.